Happy Friday, readers! This weekend’s mailing takes a deep dive into the always-timely topic of Investing, with a focus on the shifting interest rate environment, the uptick in equity market volatility, the increasing popularity of ESG investing programs, and the latest long-term capital market assumptions. Being a DC plan adviser these days involves a lot more than just managing the investment menu—but keeping abreast of the latest market developments remains essential. We hope you share some of what you read with a client or colleague.

If they do not embrace immigration in a big way, developed economies are likely to run into labor shortages that will curtail their growth potential; emerging markets will likely benefit from demographic trends.
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“Providing advisers with materials that can be used to educate clients about a firm’s approach to ESG investing is crucial in increasing adviser adoption,” says Ed Louis, a senior analyst at Cerulli Associates.
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The proposal is intended to help investors better understand these contracts’ features, fees and risks, and to more easily find the information needed to make an informed investment decision.
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Principal is incorporating capabilities from the Wells Fargo Institutional Retirement and Trust platform into its own proprietary recordkeeping system, which will serve Principal and transitioning Wells Fargo customers moving forward.

Washington insiders say Senator Ted Cruz is probably the biggest roadblock to the SECURE Act being passed in the near-term under unanimous consent; among other issues, he wants the bill to allow people to use tax-advantaged 529 college savings accounts to pay for home school expenses.

Two advisory firms argue they are harmed by the “best interest” rule because it causes them a competitive disadvantage with respect to broker/dealers, and because the rule will increase rather than abate investor confusion.